PRAGUE, July 13, 2017 – To make the most of the opportunities that connected car technology presents, it is vital for both the automotive and insurance industries to gain a clear understanding of the possible points of convergence and collaborate effectively with customer centricity at the heart of their offerings.
On April 28, 2015, the European Parliament voted in favor of the eCall regulation, which requires all new cars in Europe to be equipped with eCall technology from April 2018. In the event of a serious accident, eCall automatically dials 112, which is Europe’s single emergency number. It communicates the vehicle’s exact location to emergency services, the time of incident, and the direction of travel (most importantly on motorways), even if the driver is unconscious or unable to make a phone call. An eCall can also be triggered manually by pushing a button in the car by, for example, a witness to a serious accident. The European Commission estimates that, once the system is fully implemented, eCall could save hundreds of lives every year by providing help to injured people more quickly.
The collaboration opportunities to monetize data to offer innovative products and services, the barriers to be addressed and current examples of the two industries working together are discussed in detail in our recent research titled Connected Cars: An Exciting Convergence Point for Insurers and Automakers to Monetize Data to Deliver Great Customer Experience. The report also provides guidance to the decision makers of both the industries to make the most of the opportunities that the technology presents.
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